Money and Banking

As Japan is primarily a cash-based society, large transactions in cash are common. Credit card use is much more limited in Japan than in the U.S., and people rarely use credit cards for purchases of less than the equivalent of $50.

If you plan to use debit or ATM cards while overseas, be sure to notify your U.S. bank that you will be living in Japan for the semester/year.  You may want to request the bank to raise the daily limit of cash withdrawal, too. You should also check with your bank regarding applicable fees which can sometimes be steep.  ATMs in convenience stores and post offices can be used to withdraw money from foreign bank accounts, and there are some ATMs on the ICU campus.

Many places will ask for a PIN number for credit card transactions. Check your PIN number or register one if you don’t have it. It may make sense to open a bank account in Japan especially if you are staying in Japan for a year. This way funds can be transferred most easily in a lump sum and you will be able to get a local ATM card. This can be arranged once you arrive at ICU.